Parties Overview
A Party is anyone your organization transacts with who is not an owner — a buyer, a seller, or a vendor. The Parties master is a single, unified list of all these external contacts. Instead of maintaining separate buyer, seller, and vendor lists, you record each contact once and tag them with the role(s) they play.
This unified approach means a single company that both supplies you (vendor) and buys a unit (buyer) is one record, not two — keeping their contact details, bank accounts, and history in one place.
Types — what role the party plays
Every party is tagged with one or more types (you can select more than one):
| Type | Meaning |
|---|---|
| Buyer | Purchases units from you. Appears in quotations and sales orders. |
| Seller | Sells stock (land/assets) to you. |
| Vendor | Supplies goods or services. |
A party must have at least one type.
Categories — what kind of entity the party is
Every party is also one of two categories, which influences which fields are relevant:
| Category | Represents |
|---|---|
| Individual | A single person. |
| Organization | A company, firm, or other business entity. |
Where parties are used
The type tags drive where a party shows up across the system:
- Buyers appear in the Sales module — in quotations and sales orders, including joint purchases where several buyers share an order.
- Sellers are linked to stock records as the party you are buying land or assets from.
- Vendors appear in procurement-related activity.
Because parties are woven into financial transactions, the master keeps strong guardrails: a party used in any transaction cannot be deleted, only deactivated.
What a party record holds
| Group | Fields |
|---|---|
| Identity | Name, category, one or more types, usage tags |
| Contact | Mobile (required), alternate mobile, email |
| Compliance | PAN, Aadhaar, GSTIN and GST registration details |
| Address | Address lines, locality, city, state, country, pincode, map link |
| Bank accounts | One or more, with one marked as the default receipt account |
| Preferences | Preferred communication mode (Call / WhatsApp / Email) |
| Status | Active or Inactive |
Status
| Status | Meaning |
|---|---|
| Active | The party can be used in new transactions. |
| Inactive | Retired from new use, but kept for history. |
Uniqueness
A party's name must be unique within your organization. Email and mobile are also checked to avoid duplicate contacts.
Where to go next
- Manage Parties — create, edit, and maintain party records, bank accounts, and status.